The week ahead: Macro data to guide the markets…

The benchmark Indian indices, the Sensex and the Nifty, had ended last week in green. Stable crude oil prices, normal monsoon season and RBI’s stand on interest rates have kept the markets on a modest run. Both the indices closed approximately 0.62% to close at 34,444 and 10,768 respectively.

Going ahead, the broader markets continue to underperform and the mid cap and small cap stocks seem to further underperform as SEBI has initiated a probe against abnormal rise in share price of certain companies that do not match with their financials.

The week would be influenced by IIP and WPI data, FOMC rate decision, progress of the monsoon, FII activity and Crude oil prices. The Nifty and Sensex would face key resistance at 10,800 and 35,500. For the week ahead , expect the markets to trade in a range of 34,800-35,000 for the Sensex and 10,550-10,950 for the Nifty.

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